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Lagos Trade Fair to Promote African Regional Business Integration

The Lagos Chamber of Commerce and Industry, LCCI, has hinted that the 2022 Lagos International Trade Fair, LITF, edition would focus on building relationships across Africa and exploring the opportunity offered by the African continental free trade agreement, AfCFTA.

The opportunity is targeted at boosting global and regional markets for start-up brands, big industries, tech hubs, and multinational companies.

According to the Chairman, Trade Promotion Board, and vice president of Lagos Chamber of Commerce and Industry, Engr. Leye Kupoluyi, foreign countries, corporate organisations, government agencies, and private sector operators have increasingly announced their readiness to explore the opportunities of this year’s trade edition.

Kupoluyi added that discussions are ongoing with the executive secretary of AfCFTA, Mr. Wamkele Mene, and other stakeholders to meet exhibitors’ demands and provide more opportunities for improved logistics and ambiance.

This, the chamber said, would deepen regional markets, integrate foreign partnerships, boost startups and encourage local and budding investors to facilitate trade across the world.

He stated that the global economic restrictions of the covid-19 pandemic restricted foreign partners to participate in the past two editions due to the rising wave of the global pandemic while assuring that countries like India, Japan, and Ghana have confirmed interest to participate. Talks, he said, are already at the advanced stage with countries like Cote de Ivoire, Burkina Faso, Zambia, Indonesia, and the rest.

In addition, he affirmed that 54 countries have been invited to this year’s LITF and many of their ambassadors were visited, 10 have already confirmed their participation while others are still processing their participation.

He further stated that the fair will be bigger, better, and more beneficial for LITF, investors, foreign partners, and the global economy.

Also speaking, the director-general, of LCCI, Dr. Chinyere Almona said that the businesses would reach sales targets, boost trade volume, eliminate market restrictions and integrate a wider market for more investments.

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